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Description
Commercial Greenhouse Market is was valued at USD 31 billion in 2021 and is expected to reach USD 66.42 billion by 2028 growing at a CAGR of 11.5% during the forecast period 2022 to 2028. The commercial greenhouse is a structure made chiefly of roof and walls by using a transparent material such as glass, where plants requiring climatic conditions are developed. The size is varied from a small sheds to industrial-sized buildings. The majority of these greenhouses have high technology production facilities for flowers and vegetables. These are filled with equipment such as heating, cooling, screening installations, and lighting among others. Commercial greenhouses provide better yield compared to traditional agriculture methods. The commercial greenhouse market is expected to expand at a significant CAGR owing to an increase in urbanization coupled with the decrease in arable land. An increase in preference for rooftop farming in developed countries, a rise in demand for food consumption, and technological advancements in greenhouse farming are expected to propel the revenue of the commercial greenhouse market. Moreover, companies are focused on acquisitions and mergers, collaborations, and innovative products are the strategies followed by the companies for increasing their revenue in the market.
Key Developments:
In October 2016, Gibralter Industries, Inc. acquired Nexus Corporation for strengthening its position in the United States commercial greenhouse market.
In February 2013, Rough Brother Inc. and Golden Pacific Structures have inked an agreement to merge their business under the Rough Brother Greenhouse line.
